Business
Westfield freezes dividends as it heads for US exit – The Australian Financial Review
The shopping mall giant will likely be a Europe-only player within two years, ditching the American empire it acquired from Westfield in 2017.
Unsurprisingly, URW reported a 26 per cent slump in net rental income to 1.79 billion for 2020, while recurring net profit dropped 40 per cent to 1.06 billion.
Its malls were closed for 93 days last year, and were under restrictions for all but 70 of the remainder. Even now, half the companys premises are shuttered.
The company had to offer 401 million of rent relief to tenants by the end of last year, although by December it had collected about 80 per cent of rent owing.
Mr Tritant tried to make…
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